Real earnings management activities prior to bondissuance
Author
Mellado-Cid, Cristhian; Jory, Surendranath R.; Ngo, Thanh
Abstract
We examine real activities manipulation by firms prior to their debt issuances andhow such manipulation activities affect bond yield spreads. We find that bond-issuing firmsincrease their real activities manipulation in the five quarters leading to a bond issuance. Wedocument an inverse association between yield spread and pre-issue real activities manipula-tion, i.e., firms engaged in abnormally high levels of real activities manipulation are associatedwith subsequent lower cost of debt.
Date
2017-06-01
Citation:
APA:
Mellado-Cid, Cristhian, & Jory, Surendranath R., & Ngo, Thanh. (June 2017).
Real earnings management activities prior to bondissuance.
,
(),
-
. Retrieved from
http://hdl.handle.net/10342/8259
MLA:
Mellado-Cid, Cristhian, and Jory, Surendranath R., and Ngo, Thanh.
"Real earnings management activities prior to bondissuance". .
. (),
June 2017.
June 29, 2024.
http://hdl.handle.net/10342/8259.
Chicago:
Mellado-Cid, Cristhian and Jory, Surendranath R. and Ngo, Thanh,
"Real earnings management activities prior to bondissuance," , no.
(June 2017),
http://hdl.handle.net/10342/8259 (accessed
June 29, 2024).
AMA:
Mellado-Cid, Cristhian, Jory, Surendranath R., Ngo, Thanh.
Real earnings management activities prior to bondissuance. .
June 2017;
():
.
http://hdl.handle.net/10342/8259. Accessed
June 29, 2024.
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